- XRP is trading around the $2.41 range, losing over 2.88%.
- The U.S. SEC may acknowledge the 19b-4 filings on Feb 13.
Experts released ETF approval odds, reflecting that XRP has the lowest probability at 65%. The Securities and Exchange Commission (SEC) has not acknowledged the 19b-4 filings. The first filing was made on January 30, 2025, with an expected acknowledgement on February 13.
Notably, the SEC acknowledges such filings within 15 days, and XRP was considered an unregistered security—a stance challenged by a federal court ruling declaring that XRP is not a security.
Analysts observed that XRP ETF approval may not be possible before the Ripple vs. SEC cases are settled or dismissed. The approval process might take another 8–12 months. Meanwhile, Nasdaq has requested SEC approval to list a few ETFs, letting investors gain exposure without owning them.
If approved, the price of Ripple’s XRP might soar and hit new highs. At press time, the asset traded at $2.41, losing over 2.88% with its market cap reaching $139 billion. The daily trading volume stays at $4.36 billion. Furthermore, a $4.73 million liquidation of XRP was observed in the market.
Can XRP Gain Bullish Momentum?
A downward trajectory was evident in XRP’s four-hour price action. If the price loses its support at $2.37, it could push the price down to $2.31. The extended loss of the altcoin might drive the price even lower.
Assuming the reversal of the altcoin, the resistance at $2.45 could be tested and target the $2.56 range. If the uptrend builds momentum, the price might mount to secure a strong bullish phase.
Moreover, both the MACD line and the signal line are laid below the zero line. It indicates a weak momentum and sellers are in control. If the MACD crosses above the signal line while still below zero, signals a potential bullish reversal.
XRP’s Chaikin Money Flow (CMF) indicator is stationed at 0.22, which suggests strong buying pressure in the market, and the money is flowing into the asset. Meanwhile, the asset’s daily trading volume has plunged by over 2.74%.
The 24-hour frame of XRP exhibits the daily relative strength index (RSI) at 38.64, which signals the asset in the neutral-to-oversold zone. Besides, the Bull Bear Power (BBP) value of -0.2642 points out that bears have the upper hand.
Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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